Product Review: Canopy Tax - ToOLOwl
Friday , January 17 2020

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Product Review: Canopy Tax

You can see Top 10 Accounting Tools for Small and Medium Businesses and Top 3 Accounting Tools for Small and Medium Businesses to look into details

Tax Resolution saves your time on each case with auto-populated Internal Revenue Service (IRS) methods and case outcome supporters. Canopy is one such tax resolution tool that allows you to pull IRS transcripts in as slight as two minutes. It is a cloud-based software that creates tax software products with the purpose of making the client’s tax life easier. It increases workflow efficiency while improving client relationships with a client portal and advanced project management. Canopy Tax allows effortless gathering of client information and documents, robust tax analytics, auto-completion of tax forms, and more. It manages the appointment as per the schedule and allows you to monitor and control the IT environment from anywhere and anytime. It hosts the complete system of your products, all working together in order to enhance the efficiency of your practice while making the connections stronger with your clients. It provides you with a more transparent and connected experience and improves communication and information sharing.

Features Overview

  • Approval Process Control
  • Client Management
  • Document Management
  • Billing and Invoicing
  • Client Portal to easily share the document
  • Tax Resolution and Preparation
  • Tracking of Due Date
  • Workflow Management

Editions and Pricing

Canopy Tax offers a free trial for its users and provides the service of IRS Transcript Retrieval and IRS Transcript Reports. Furthermore, it offers three pricing options for businesses, which include Basic, Standard, and Pro (Coming soon in 2020). Companies can choose any of the below-mentioned plans according to their needs.

Basic $894/yearly/Unlimited Users · Seamless Client Interaction

· Client Portal

· Document Management

Standard $1073/yearly/Unlimited Users · Collaborative Project Management

· Dashboard & Reporting

Pro Launching in 2020 summer · Smart Resource Allocation

· All Basic and Standard Features

· Advanced Reporting

Tax Resolution $1489/yearly · Practice management

· Notices

· Transcripts

Capabilities and Supporting Set of Features

Dashboard: As soon as you sign up with your account, Canopy Tax takes you to the dashboard. It will provide you to access different features like contacts, billing, engagements, tasks, tax preparation, transcripts, calendar, and files. Furthermore, the dashboard shows the task overview, includes the time tracking option and search contact option. Moreover, the ‘+’ icon provides you options to add contact, task, time entry, event, tax return, invoice, and payment.

 

Contacts: The contact option will provide the filters, including individuals, businesses, and all entities. You can filter the contacts by contact name, contact type, birthday, created on, business type, tags, and sources.

 

 

 

Billing: In the billing option, you may enable the option of the dashboard in which you can track your revenue and outstanding invoices. It will show you your total past due and totally outstanding. Furthermore, it will provide you with options to feed information about your invoices, payments, time entries, and service items. The billing option will provide you statements of your tax due & paid, and will also show aged receivable summary and details.

Tax Preparation: You can view the status of your tax payment and preparation for this option. At first, you can create tax returns on this option. Furthermore, you can also view and edit the return name, return type, contact, date, date type, and assignee(s).

 

 

Files: In the file option, you can access the contact files, internal files, and my files. It will also show you your recently viewed files. You can further drag and drop your files from your computer directly.

 

 

Mobile Accessibility

Canopy is supported on Web, SaaS, and Cloud. There is no mobile accessibility available for the software.

Integrations

Canopy has integration with Gmail. It helps in tracking finding the conversation of the users easily.

Pros and Cons

Pros

  • Users can upload file easily to a secure client portal
  • Clients have 24/7 access to their files
  • The incorporation of Gmail makes it easy for users to track/find email conversations.
  • Helps in managing contacts, documents, notes, and tasks.

Cons

  • Does not provide mobile accessibility
  • Limited Search Engine
  • Inability to print notes

Differentiator

  • Link Spouse and dependent’s profiles, securely store SSNs and EINs.
  • Creates tags for different case types.

For further details, please visit the Canopy Website.

About ToOLOwl

I am ToOLOwl. I have few friends in my nest; whenever someone requests a tool’s review or I pick a one out of my interest, someone in the nest does research on the tool, someone takes a tool’s walkthrough and some of them share their experiences and expert advice. Based on all; I give it a  stereoscopic vision and present important insights for you to go through and ease your selection process for tools. Wish you Happy reading, Easy choosing.

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